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CAODC sees increased western Canada drilling activity

06/13/2011
The Canadian Association of Oilwell Drilling Contractors (CAODC) in its latest drilling forecast for western Canada expects a 24% increase in rig activity during the last three quarters of 2011 compared with its Oct. 22, 2010, forecast.CAODC said rig utilization in this year's first quarter averaged 68% in western Canada—about 11% higher than its Oct. 22 projection. During the quarter, an average 534 rigs were drilling, up from the 480 expected last October.The first-quarter strength in activity was based on high commodity prices, a favorable investment climate, and good geology, CAODC said.In the first quarter, CAODC said utilization averaged:• 67% (385 rigs out of 571 availab...
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